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Heriot REITJSE:HET 66 Debt-to-EBITDA is 3.46 as of Dec. 2025, which is 8% below its 10-year median of 3.78. GuruFocus rates JSE:HET with a GF Score™ of 66/100 and a GF Value™ of R24.25 (Fairly Valued). The stock has 13 warning signs investors should review. Among 573 REITs companies, Heriot REIT ranks better than 84.82% on this metric.
Debt-to-EBITDA measures a company's ability to pay off its debt.
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for Heriot REIT's Debt-to-EBITDA or its related term are showing as below:
JSE:HET'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 2.49 Med: 3.78 Max: 7.43
Current: 3.02
During the past 8 years, the highest Debt-to-EBITDA Ratio of Heriot REIT was 7.43. The lowest was 2.49. And the median was 3.78.
JSE:HET's Debt-to-EBITDA is ranked better than 84.82% of 573
companies
in the REITs industry
Industry Median: 6.32
vs JSE:HET: 3.02
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
Heriot REIT Debt-to-EBITDA Related Terms
Heriot REIT Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for Heriot REIT's Debt-to-EBITDA can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the REIT - Diversified subindustry, Heriot REIT's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Heriot REIT Debt-to-EBITDA vs REITs Industry
For the REITs industry and Real Estate sector, Heriot REIT's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Heriot REIT's Debt-to-EBITDA falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is two times the quarterly (Dec. 2025) EBITDA data.
Heriot REIT (JSE:HET) has a Debt-to-EBITDA of 3.46 as of Dec. 2025. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Heriot REIT. This is near median its historical median of 3.78. Over the past decade, Heriot REIT's Debt-to-EBITDA has ranged from 2.49 to 7.43. According to the industry distribution chart, Heriot REIT ranks #87 out of 573 companies in the REITs industry, placing it in the top 15.2%.
Is Heriot REIT's Debt-to-EBITDA too high?
Heriot REIT's current Debt-to-EBITDA of 3.46 is near median its 10-year median of 3.78. Over the past 10 years, this metric has ranged from a low of 2.49 to a high of 7.43. The REITs industry median Debt-to-EBITDA is 6.32. Heriot REIT's value of 3.46 is 45.3% below this industry median. Based on the distribution chart, Heriot REIT ranks #87 out of 573 companies in the REITs industry, which is in the top quartile — a strong position relative to peers. Overall, Heriot REIT has a GF Score™ of 66/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Heriot REIT's Debt-to-EBITDA compare to VICI and WPC?
According to the REITs industry distribution chart, Heriot REIT ranks #87 out of 573 companies for Debt-to-EBITDA. This places Heriot REIT in the top 15% of its industry — outperforming the majority of peers. The industry median Debt-to-EBITDA is 6.32. Heriot REIT's value of 3.46 is 45.3% below this benchmark. Historically, Heriot REIT's own Debt-to-EBITDA has ranged from 2.49 to 7.43 over the past decade. While the company's 10-year median is 3.78 vs. the industry median of 6.32, Heriot REIT has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-EBITDA for a REITs company?
The median Debt-to-EBITDA among REITs companies is 6.32, based on 573 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Heriot REIT's current Debt-to-EBITDA of 3.46 is 45.3% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Heriot REIT. For the REITs industry, the median Debt-to-EBITDA is 6.32 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Heriot REIT's current Debt-to-EBITDA is 3.46, which is near median its own 10-year median of 3.78. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Heriot REIT stock overvalued right now?
Based on GuruFocus' analysis, Heriot REIT (JSE:HET) is currently considered Fairly Valued. The stock's GF Value™ is R24.25, compared to a current price of R26.00 — trading 7.2% above its estimated fair value. The current Debt-to-EBITDA is 3.46, which is near median its 10-year median of 3.78 and 45.3% below the REITs industry median of 6.32. Heriot REIT's overall GF Score™ is 66/100 with 13 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For Heriot REIT (JSE:HET), the current Debt-to-EBITDA is 3.46 as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Heriot REIT (JSE:HET) Overvalued in 2026?
Based on GuruFocus' analysis, Heriot REIT stock appears to be overvalued.
The current stock price of R26.00 is trading 7.2% above its estimated GF Value™ of R24.25.
GuruFocus considers Heriot REIT to be Fairly Valued.
Key valuation signals for JSE:HET:
Debt-to-EBITDA: 3.46 (near median its 10-year median of 3.78)
GF Value™: R24.25 vs. price of R26.00 (7.2% above fair value)
Industry Position: 45.3% below the REITs median (#87 of 573)
No single metric tells the full story. See the JSE:HET stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Heriot REIT Ltd is a South African real estate investment trust. The company's primary segments include retail, industrial, office, specialized, residential, and others. While the majority of the revenue is earned from the Retail segment. The primary objective of the company is to develop or acquire yield-enhancing assets within Southern Africa to create a stable and diverse portfolio for the purposes of generating capital growth and securing escalating net rental income streams. Geographically, the company operates in Gauteng, Western Cape, KwaZulu-Natal, North West, Mpumalanga, Limpopo, Free State, and Namibia.
66GF Score
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Debt-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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